French regulator calls Bitcoin "dangerous illusion"

The chairman of French market regulator called Bitcoin a “dangerous illusion” and a tool for criminals

04 December 2017
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Robert Ophele, the chairman of the Autorité des marchés financiers (Financial Markets Regulator), called bitcoin a "dangerous illusion" and a tool for criminals, condemning the cryptocurrency when its value reached $11,000.

It’s a way to purchase illicit goods, it’s a way to launder illicit income, it’s a way to develop and pay for cybercrimes and it’s a pure empty commodity. If it were a currency, it would be a very bad one.

Robert Ophele

Chairman of the Autorite des Marches Financiers

According to Ophele, Bitcoin has no link to the real economy. He also assumes that due to the growing speculation that Bitcoin will find a lasting role in the financial system, it becomes more complicated for authorities and banks to treat with cryptocurrency.

Iranian Central Bank Doesn’t Recognize Bitcoin as Official Currency

The Central Bank of Iran announced that it has never recognized Bitcoin as an official currency and conducts no transactions in it or other cryptocurrencies

22 February 2018
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Last year, the Iranian government was interested in utilizing cryptocurrencies as a way of bypassing economic sanctions levied against the country. Today it completely changed its mind. The Central Bank of Iran announced that it will never recognize Crypto as official currency.

The bank informed citizens about risks of making investments because there is a chance to lose financial assets. Currently, the bank is cooperating with other institutions to develop mechanisms to control and prevent the use of cryptocurrencies in the country.

The wild fluctuations of the digital currencies along with competitive business activities underway via network marketing and pyramid scheme have made the market of these currencies highly unreliable and risky.

The Central Bank of Iran

However, there is some positive news. Today, Iran’s Information and Communications Technology (ICT) Minister Mohammad-Javad Azari Jahromi informed about the development of a local cryptocurrency by Post Bank. Unfortunately, the stage of research is not stated.